Dogecoin ($DOGE) Surprises with Double Bottom Miracle! Whales Frenziedly Accumulate 3.6 Billion, Is a $1 Target Within Reach?
Recently, meme coin representative Dogecoin (DOGE) has attracted widespread attention in the cryptocurrency market. The latest weekly chart shows that this asset is forming a rare 'Adam and Eve' double bottom pattern—composed of a rounded bottom (Eve) from mid-2022 to the end of 2024 and a sharp V bottom (Adam) at the beginning of 2025. This classic technical pattern usually signals the end of a long-term downtrend, and currently, DOGE has seen a weekly increase of 6.69%, now priced at $0.220163.
If DOGE can effectively break through the neck line level of $0.56958, according to pattern measurement targets, it may see an 89% increase in price, with the primary target set at $1.08. It is noteworthy that the confirmation of this pattern requires meeting two key conditions: sustained volume increase and a weekly closing price consistently above the neck line.
On-chain data provides strong evidence for this potential rise. Since January 23, 2025, whale addresses holding 100 million to 1 billion DOGE have cumulatively increased their holdings by 3.61 billion tokens.
Historical experience shows that such large-scale whale movements often indicate that prices are about to experience significant fluctuations. Currently, DOGE is consolidating at the critical platform of $0.228, and the accumulation behavior of whales is interpreted by the market as 'smart money' gearing up for a breakout.
Market observers believe that, in the context of continued whale accumulation, the likelihood of DOGE replicating a similar market scenario is increasing. Technically, the gradual rise in the Adam stage low points further indicates that bullish momentum is building, which may lead to a transmission effect of buying pressure among holders.
